F M Investments LLC Cuts Stock Position in IDACORP, Inc. (NYSE:IDA)

F M Investments LLC reduced its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 66.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,256 shares of the energy company's stock after selling 51,936 shares during the quarter. F M Investments LLC's holdings in IDACORP were worth $2,869,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after acquiring an additional 1,035,133 shares during the last quarter. Reaves W H & Co. Inc. raised its holdings in IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after acquiring an additional 429,276 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of IDACORP during the 4th quarter valued at approximately $37,104,000. State Street Corp lifted its holdings in shares of IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after purchasing an additional 77,230 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDA has been the topic of several analyst reports. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Morgan Stanley increased their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $120.50.

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IDACORP Trading Down 0.1 %

IDACORP stock traded down $0.12 during trading hours on Wednesday, reaching $119.39. The stock had a trading volume of 98,434 shares, compared to its average volume of 327,133. The company has a fifty day simple moving average of $114.62 and a 200-day simple moving average of $111.43. The stock has a market cap of $6.45 billion, a PE ratio of 21.79, a PEG ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $121.81.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 2.88%. IDACORP's payout ratio is currently 62.77%.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.